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IN MAY 2014, a technical committee constituted by Government to evaluate the performance of Konkola Copper Mines found that capital projects totalling US$2.8 billion were financed through Konkola’s own cash flow, lease finance and short-term bank loans. PICTURE: MATTHEWS KABAMBA

KCM creditors seek voice

CHOMBA MUSIKA, Lusaka
KONKOLA Copper Mines (KCM) creditors who are owed millions of dollars want to be heard in the winding up petition of the mining company.
Four creditors have gone to the High Court, where they have filed notices of intention to be heard in the winding up petition of KCM.
This is in a matter in which Zambia Consolidated Copper Mines Investments Holdings (ZCCM-IH) has asked the court to wind up KCM for, among other allegations, evading tax and being insolvent. CLICK TO READ MORE